What do I need to do to open a yoga studio?

Question by Taylor: What do I need to do to open a yoga studio?
I want to open a yoga studio in Redondo Beach and I’m probably going to Cal State Long Beach for college. What steps should I take? (I’m currently a freshman and I’m homeschooled)

Best answer:

Answer by Henry
1

Decide on a unique concept for your yoga studio. This is especially important if there are other yoga studios in your area. Choose whether you want to specialize in a particular yoga discipline–such as hatha or bikram–or whether you want to offer customers a choice.

2

Do market research to make sure there is a market in your area. You’ll lose money if you open your business only to find that no one in the area is interested in yoga. If there are other yoga businesses in the area, you know that there is a demand. If not, you may want to hire a market research company or conduct your own research. To see how much interest there is in your area, you could send out a mailing to area residents, take a survey at a gym or health food store or place an ad in a local newspaper.

3

Look at several spaces to find one that works for you. The location of your yoga studio is important. Look for a place that has one or more large rooms to hold classes. You should also consider whether you want to have locker rooms and showers for your customers. Choose a place that is easily accessible.

4

Secure funding to help you get started. A business loan from a bank can help you to open a yoga business. You’ll need enough money to rent the space, purchase equipment such as yoga mats, mirrors and a sound system, remodel the space to look like a yoga studio and pay the salaries of your employees until the business starts turning a profit. Look for an SBA loan, which can offer lower interest rates. Find a link in Resources.

5

Hire certified yoga teachers. Look for teachers who are experienced and qualified. The Yoga Alliance is a nonprofit standards organization for yoga teachers and schools. You can be sure that a teacher who has registered through them or gone through a program that the Alliance approves is qualified. Having teachers that appeal to your customers is going to keep your customers coming back for more classes, so be sure to reward popular teachers with higher salaries.

6

Offer an incentive to get new customers to take your classes. A great way to bring new customers in the door is to offer an incentive, such as a reduced cost for the first few lessons or a free yoga mat for signing up.

Know better? Leave your own answer in the comments!

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Category: Yoga Classes

3 Responses to “What do I need to do to open a yoga studio?”

  1. You might want to look at a short course for small business management. Also you’re going to have to find a good location/shop with parking for clients. You can either teach the yoga yourself or hire someone else. You will also need to look at things like the rent of the property and the cost of running this establishment (rent, power, water etc) and then think about how much you will charge your clients and for how long each session will be. You will also need to buy yoga mats, you could also look at finding a supplier of yoga mats so that you can sell them to clients and make a profit off of it. What would also be handy would be either a water cooler or selling bottled water. Selling bottled water would make you more money than having a water cooler.
    You will need to either get some signage done for your studio and probably drop off flyers to the locals to get the word out that there will be a yoga studio in their area. Offer a discounted or free session for their first time.

    Good luck

  2. Ok, the most important step to this will be having the MONEY to actually do anything. So start by getting a job and saving a lot of money. You will also need to have good credit, but don’t plan on being able to easily get a business loan — which is why I say have money. After that, obviously being certified in yoga (if you plan to teach it yourself) is going to be important.

    Yeah, market research, writing business plans, and all of that stuff is good and well, but the fact is without the money NOTHING else matters.

    For now you need to finish high school (well, your home schooling), go to college, get a job, save up your money and take it from there.

  3. Small Business Consultant August 11, 2013 at 12:17 am

    I agree with the other answers folks gave you. There are quite a few Yoga studios in Redondo Beach and around there. You should pick a niche. Here is how your competition would look like. Did you consider a Pilates studio instead? Hope this helps and good luck.